The Zcash mining landscape is undergoing a massive shift as Foundry Digital officially enters the arena. Within just one month of its launch, the Foundry Zcash Pool has secured a staggering 29.2% of the network’s hashrate, signaling a major win for institutional miners seeking compliant infrastructure.
This aggressive entry has effectively ended the long-standing dominance of ViaBTC. Previously, ViaBTC controlled roughly 65% of the network’s mining power—a concentration that had raised security concerns across the crypto industry. Since Foundry’s debut, ViaBTC’s share has retreated to approximately 37%, creating a more distributed and theoretically more secure network.
The Institutional Pivot to Privacy-Focused Mining
Foundry’s rapid ascent is no accident. As the operator of the largest Bitcoin mining pool in the world, the company has deep-rooted relationships with institutional and public mining firms. According to Foundry, these large-scale players have been actively searching for a “compliant, purpose-built” solution for Zcash. While the specific names of the onboarded miners remain undisclosed, the sheer volume of shifted hashrate suggests that several heavy hitters moved their hardware to Foundry’s pool almost immediately.
To support this new ecosystem, Foundry also launched a dedicated Zcash block explorer. Real-time data shows the pool has already successfully mined over 2,300 blocks. Currently, Zcash blocks are processed roughly every 75 seconds, offering a reward of 1.25 ZEC. At recent market valuations, each block is worth approximately $458, providing a steady stream of revenue for participating miners.
Market Impact and the Rise of ZEC
The launch of the Foundry Zcash Pool has done more than just redistribute computing power; it has coincided with a massive surge in market interest. ZEC has recently become one of the top-performing assets in the crypto space, boasting a 1,050% increase over the past year. A significant portion of that growth—roughly 77%—occurred in the month following Foundry’s initial project announcement.
With a market capitalization now sitting around $6.2 billion, Zcash has solidified its position as the fifth-largest proof-of-work (PoW) cryptocurrency. It currently trails only Bitcoin, Dogecoin, Bitcoin Cash, and its primary privacy rival, Monero.
The decentralization of the hashrate is a welcome development for the Zcash community. Back in September 2023, Coinbase publicly flagged the high concentration of mining power in a single pool as a potential security risk. With Foundry now providing a competitive alternative, the Zcash network appears more resilient and better equipped to handle the influx of institutional capital.
